Cincinnati–(BUSINESS WIRE)–July 15, 2005–Mycom Group, Inc., a technology products,
managed services, reseller and software development company, whose stock is traded
on the over the counter market (OTCBB:MYCM), today announced it has entered into
an agreement with Secure Pipe Inc. for the sale of the assets of Mycom’s Managed
Services Division and for the mailMAX(TM) Email Filtering Technology. The terms
of the sale, which will include cash, assumption of certain liabilities, and royalty,
will be announced at a later date. Closing is expected to take place within the
next 45-60 days.
Mycom’s CEO, Rob Bransom stated, ”The pending sale of mailMAX, secureMax,
serverMAX technology and our managed services division to SecurePipe represents
a major step forward in our plan for repositioning the focus of the Mycom Group
and strengthening the Company’s financial condition. It will provide working
capital and allow Mycom to reduce debt and seek merger and acquisition opportunities.”
After the sale, Mycom will focus on a new direction. ”Our strategy for
growth is being revised and will be aimed at a new business category for Mycom,”
said Bransom. ”We will continue to seek acquisition opportunities that
will compliment our existing divisions, and provide improved cash flow and EBIDA.”
Mycom will continue to operate its largest division, Broughton International,
a software, hardware and services reseller to businesses throughout North America.
The company will also continue to operate its Technical Services division which
provides networking and on-site systems services for businesses in the Ohio,
Indiana and Kentucky tri-state area. Revenue from these remaining Mycom divisions
was approximately $5.8MM in 2004.
”We are enthused about how well this division of Mycom complements our
suite of managed security services,” commented Art Roldan, CEO of SecurePipe.
”Email communications play a central role in today’s business environment.
Ensuring that these communications are secure and available without interruption
requires state-of-the-art solutions. This acquisition will increase our client
base, and brings technologies that enhance our ability to satisfy the regulatory
compliance requirements of our clients,” said Roldan.
This acquisition will position SecurePipe as a leading provider in the growing
market for secure managed email services. ”We will now be able to accelerate
the integration of emerging security-related features and functionality that
are growing more important to the secure delivery, retention and analysis of
email messages,” said Roldan.
As part of the agreement between the two companies, SecurePipe will employ
certain key personnel and engineering staff. Mycom will continue to distribute
mailMAX managed services operating as a reseller for Secure Pipe. ”Mycom
will make a great addition to our partner network,” said Roldan. ”We
look forward to building upon their strong presence in Cincinnati and throughout
the tri-state region,” he concluded.
SecurePipe, headquartered in Illinois, delivers managed network security services
to financial institutions and distributed enterprises wrestling with escalating
regulatory requirements. A best of breed blend of disciplined process, expert
people and proven technology underlies SecurePipe’s comprehensive suite of managed
services which are delivered from its state-of-the-art network operations center
staffed 24x7x365 by security engineers. No other managed network security service
offers a comparable breadth and depth of services at such an affordable price.
Please visit SecurePipe at www.securepipe.com.
For more information, please contact Jim Brintnall at 847-940-0025 x15 or email@example.com
About Mycom Group Inc.
The Mycom Group, Inc. is a technology solutions and managed services provider
to businesses and organizations throughout North America. It markets a wide
range of software, hardware, enterprise solutions and technology services. Mycom
develops and markets new applications and services using the mycomPRO(R) brand
name, and as a private label. Mycom, headquartered in Cincinnati, Ohio, is on
the web at www.mycom.com.